Common use of Continued Base Salary Clause in Contracts

Continued Base Salary. You will receive continuing payments of severance pay at a rate equal to your base salary rate, as then in effect, for twelve (12) months from the date of such termination in accordance with the Company’s normal payroll policies; provided, however, that in the event that all of the continuing payments have not been paid as of the last payroll date prior to March 15 of the year following the year during which the termination occurs, the Company will pay all remaining amounts in a lump sum on such payroll date such that no payments to be made pursuant to this Section 1(a) will be made after March 15 of the year following the year during which the termination occurs.

Continued Base Salary. You will receive continuing payments of severance pay at a rate equal to your base salary rate, as then in effect, for twelve six (126) months from the date of such termination in accordance with the Company’s normal payroll policies; provided, however, that in the event that all of the continuing payments have not been paid as of the last payroll date prior to March 15 of the year following the year during which the termination occurs, the Company will pay all remaining amounts in a lump sum on such payroll date such that no payments to be made pursuant to this Section 1(a2(a) will be made after March 15 of the year following the year during which the termination occurs.